How much is the salary of a Bank Clerk in Public Sector Bank / Salary of State Bank of India Clerk – SBI Clerk Salary

Presently the salary scale of PSB and SBI Clerk as follows

7200-400/3-8400-500/3-9900-600/4-12300-700/7-17200-1300/1-18500-800/1-19300 (under review).

From above it means that Basic salary at the time of joining the clerical cadre shall be 7200 and upon that DA ( Dearness Allowance ) and other perks are payable such as conveyance, petrol allowance, newspaper allowance, HRA- House Rent Allowance

From August 2014 the expected DA is around appx 105% hence we shall calculate the salary based upon that.

HRA varies from 7% to 10% depending upon the place of posting from rural to metros cities 10% HRA for Metro cities such as Delhi , Mumbai.

·        Basic                                7200

·        DA ( 105%)                      7560

·        HRA ( 10 % )                    720

·        Other Allowance ( Appx)  1200       

Total Gross salary                   16,680

Deductions include Professional Tax, 200 Per Months 2500/ Yr

NPS Contribution 10% of Basic Plus DA 1476/-

Hence Total Net Salary is appox  15,000/- Per Month for a new joinee clerk in a public sector bank and sate bank of India

The above Pay scale is under revision from November 2014 and by looking at the current talks with IBA and Finance Ministery it seems there shall be increase of 15% in the gross salary so the new gross salary should be in range of 19200 – 21000